AFLAC INC — Director's Dealing 2004

Nov 22, 2004

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2004-11-19

Reporting Person: SMITH JOSEPH W JR (Sr. Vice-President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2004-11-19	Common Stock	M	6783	$7.9167	Acquired	145000	Direct
2004-11-19	Common Stock	S	2000	$37.48	Disposed	143000	Direct
2004-11-19	Common Stock	S	1600	$37.51	Disposed	141400	Direct
2004-11-19	Common Stock	S	1400	$37.5	Disposed	140000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2004-11-19	Employee Stock Option (right to buy)	$7.9167	M	6783	Disposed	2006-02-13	Common Stock (6783)	Direct